The crypto market continues to grow strongly, driving many tokens close to or surpassing all-time highs (ATH), with several achieving this milestone in the past week. Among the altcoins making history is BNB, which is currently approaching its record high.
Additionally, the article also identifies two other coins that are rapidly approaching ATH and may soon set new records.
XRP
The price of XRP recently recorded a new high, reaching $3.66 for the first time in over six months. Although the price slightly corrected afterwards, it is currently trading just 3.2% below the ATH – indicating strong investor interest.
The exponential moving averages (EMA) are forming a golden cross pattern – a technical signal indicating a bullish trend, while also serving as dynamic support for the price. This suggests that XRP is ready to continue its upward trend. If it breaks out above $3.66, XRP could reach the $3.8 mark, establishing a new ATH.
However, profit-taking remains a potential risk as some investors want to realize profits from the recent price surge. If selling pressure increases, the price of XRP could break the support level of $3.38. In the event of a drop to $3, the bullish outlook would be invalidated and could open the door for a larger correction.
BNB
Currently, the price of BNB is trading around $768, just 3.3% away from breaking the ATH of $793. Investors have been waiting for this moment for seven months. For a successful breakout, the price needs to hold the $741 level as stable support.
The Parabolic SAR technical indicator is currently positioned below the candles, indicating that the upward momentum is still being strongly maintained. This pattern is a clear signal for the continuation of the bullish trend. If the trend continues, BNB not only has the potential to surpass the $793 resistance level, but it could also reach $810, establishing a new peak and further consolidating investor confidence.
However, an early sell-off could hinder this upward momentum. If BNB fails to maintain the support level of $741, the price risks falling to $700. Such a decline would invalidate the bullish outlook and trigger a wave of caution across the market – especially among short-term traders betting on a breakout.
Hyperliquid (HYPE)
The price of HYPE is well-positioned to establish a new ATH, provided it can hold the support level of $42.3. Maintaining this price base could open up opportunities for HYPE to continue its upward trend in the short term.
Currently, HYPE is trading at $44.42, just over 10% away from surpassing the ATH of $49.86 set last week. The Ichimoku Cloud indicator is forming below the candles, indicating that bullish momentum is strengthening. This technical setup signals a high likelihood that HYPE will soon surpass the $50 mark.
However, if HYPE cannot establish the $42.3 level as a solid support, the bullish outlook will be invalidated. A drop to the $40 range would mark a significant correction, erasing much of the recent gains. Such a reversal could also undermine investor confidence and indicate a potential shift in short-term market sentiment.